The co-op housing sector has reasons to be optimistic!

During the election campaign the Liberal Party of Canada pledged to renew funding for housing co-operatives and to build more affordable rental housing. This was great news and a great response to the Co-operative Housing Federation of Canada’s (CHF) “You Hold the Key” campaign to fix the co-op housing crunch. The pledge will be a relief to those facing a halt to subsidies that maintain safe and affordable housing for vulnerable people.

CHF Canada a CMC member that represents more than 900 housing co-operatives, immediately stated that they are ready to start working with the new Liberal government as the election results were confirmed.

"Canada's housing co-operatives are eager to work with the new federal government to fulfill their commitment to renew funding. In this way, people and vulnerable families living in housing co-operatives continue to have access to safe and affordable housing, "said the general manager of CHF Canada Nicholas Gazzard.

In Canada, more than 21,000 low-income households live in housing co-operatives where rents are made affordable through the federal funding agreements. Without the funding agreements, it is difficult if not impossible for co-operatives to provide social housing at an affordable price.